Natural Gas (NG) has lost over 63% in value since the peak in August 2022. It has been a rather sharp decline with a sizeable recovery in the middle before the decline resumed again. Today, we will take a look at Elliott Wave structure of the decline from August 2022 peak, show some charts from […]
-
Elliott Wave View: Oil (CL) Has Started New Leg Higher
Read MoreOil (CL) shows a bullish sequence from 9.26.2022 low favoring more upside. This article and video look at the Elliott Wave path.
-
Platinum (PL) Searching for Bottom
Read MorePlatinum (PL) continues to trade sideways and the metal is in the process of forming an important low before the next major bullish cycle starts. The Federal Reserve has aggressively hiked rates multiple times, creating a sideways to lower movement in the commodity sectors. There’s however no doubt that the longer term outlook of commodities […]
-
Elliott Wave View: Gold Could Shine A Bit In Coming Days
Read MoreShort term Elliott Wave view on Gold (XAUUSD) continued with bearish momentum from 10.04.2022 high calling for further downside. Decline from 10.04.2022 high is unfolding in 3 waves to complete a double correction. Down from 10.04.2022 high, wave (i) ended at 1700.00 and rally in wave (ii) ended at 1725.78. Then XAUUSD resumes the drop […]
-
Elliott Wave View: Silver Needs More Downside Before a Pullback
Read MoreShort term Elliott Wave view on Silver (XAGUSD) continued with bearish momentum from 10.04.2022 high calling for further downside. Decline from 10.04.2022 high is unfolding as a 5 waves impulse. Down from 10.04.2022 high, wave ((i)) ended at 19.92 and rally in wave ((ii)) ended at 20.87. Then silver resumes the drop as wave ((iii)). Internal […]
-
$LBS: Lumber Prices in a Historic Double Correction
Read MoreLumber, also known as timber, is a type of wood that has been processed into beams and planks. One can trade it in form of Random Length Lumber futures and options at Chicago Mercantile Exchange within the agriculture asset class under the ticker $LBS. In 2020, we saw commodities turning higher. Since January 2021, rally […]
-
Natural Gas $NG_F Incomplete Bearish Sequences Calling The Decline
Read MoreHello fellow traders. In this technical blog we’re going to take a quick look at the Elliott Wave charts of Natural Gas $NG_F . As our members know, Natural Gas futures has been showing incomplete bearish sequences in the cycle from the August 23rd peak. We recommended members to avoid buying the commodity. Cycle from […]